Geothermal panel startup closes CHF1.3 million seed financing round

Installation of modular geothermal panels (source: enerdrape)

Carlo Cariaga 17 Jan 2024

Enerdrape, a startup based in Vaud, Switzerland pioneering pre-fabricated geothermal panel technology, has just concluded a CHF 1.3 million (approx. UD 1.5 million) seed financing round. Swiss investors, including Après-demain through the initiative GeneRActions Planet and Romande Energie led the seed round, aligning themselves with enerdrape’s vision for a sustainable future.

Founded by Margaux Peltier, Dr. Alessandro Rotta Loria, and Prof. Lyesse Laloui, enerdrape has developed the technology for pre-fabricated geothermal panels that can turn underground structures, such as garages or tunnels, into renewable sources of thermal energy for heat and cooling without drilling. The panels are modular, thin, flexible, made of recyclable materials, and compatible with heat pumps.

“This CHF 1.3 million injection is a testament to the confidence our investors place in enerdrape’s mission and potential. It propels the company to scale operations, enhance product offerings, and strengthen the team with new talents. This not only enhances the success of our seed round but also opens doors to the exciting possibilities that lie ahead in our Series A journey,” said Margaux Peltier, CEO & Co-Founder of enerdrape.

The additional capital injection is earmarked to fortify enerdrape’s product development efforts and contribute to strategic enhancements within the existing team. This funding milestone propels the company’s total fundraising past the CHF 2 million, following a successful 2022, during which enerdrape secured CHF 500’000 in support from respected organizations such as the Swiss Climate Foundation and Fondation pour l’Innovation et la Technologie (FIT), and accolades through the >>Venture>> and PERL awards.

“The investment in enerdrape strengthens our commitment to energy transition through GeneRActions Planet. With its innovative geothermal panel technology, enerdrape has the potential to revolutionize the energy sector, and we congratulate Margaux on her disruptive invention,” commented Thierry Mauvernay, President and Shareholder of Apres-demain SA.

“We have been following the start-up since its early days, highly interested in this form of geothermal energy that aligns perfectly with the deployment of energy-efficient solutions that Romande Energie is proposing to decarbonize the region,” added Paolo Pizzolato, Head of Venture Capital at Romande Energie.

Romande Energie is also involved in geothermal exploration efforts in several parts of Switzerland such as in Lausanne, Lac Leman, and Lavey-les-Bains.

For more on how enerdrape’s geothermal panel technology works, watch the video below that has been published by enerdrape:

Source: Enerdrape